Common use of MAJOR MAINTENANCE AND REPAIR RESERVE FUND Clause in Contracts

MAJOR MAINTENANCE AND REPAIR RESERVE FUND. CONTRACTOR shall make and be responsible for all routine and necessary repairs of the Facility, and repairs/replacement of all Facility furnishings, fixtures, and equipment, so long as the cost associated with any maintenance, replacement, or repair is $5,000.00 or less (per item, per occurrence). Routine and necessary repairs shall be defined as any maintenance or repair, which has a cost of $5,000.00 or less (per item, per occurrence). On the first (1st) day of each month, the Bureau shall deduct one-twelfth (1/12) of $197,004.00 from the Contractor’s monthly invoice and transfer said amount to the Grants and Donations Trust Fund. This equates to $16,417.00 per month.

MAJOR MAINTENANCE AND REPAIR RESERVE FUND. CONTRACTOR shall make and be responsible for all routine and necessary repairs of the Facility, and repairs/replacement of all Facility furnishings, fixtures, and equipment, so long as the cost associated with any maintenance, replacement, or repair is $5,000.00 or less (per item, per occurrence). Routine and necessary repairs shall be defined as any maintenance or repair, which has a cost of $5,000.00 or less (per item, per occurrence). On the first (1st) day of each month, the Bureau shall deduct one-twelfth (1/12) of $197,004.00 376,800.00 from the Contractor’s monthly invoice and transfer said amount to the Grants and Donations Trust Fund. This equates to $16,417.00 31,400.00 per month.

MAJOR MAINTENANCE AND REPAIR RESERVE FUND. CONTRACTOR shall make and be responsible for all routine and necessary repairs of the Facility, and repairs/replacement of all Facility furnishings, fixtures, and equipment, so long as the cost associated with any maintenance, replacement, or repair is $5,000.00 or less (per item, per occurrence). Routine and necessary repairs shall be defined as any maintenance or repair, which has a cost of $5,000.00 or less (per item, per occurrence). On the first (1st) day of each month, the Bureau shall deduct one-twelfth (1/12) of $197,004.00 389,600.00 from the Contractor’s monthly invoice and transfer said amount to the Grants and Donations Trust Fund. This equates to $16,417.00 32,466.67 per month.